Bank Hapoalim

Summary

Bank Hapoalim (Hebrew: בנק הפועלים‎ lit. The Laborers Bank) is Israel’s largest bank. As of 31 December 2008 it had total consolidated assets of NIS 306.85 billion. The Bank has a significant presence in global financial markets. In Israel, the Group has over 260 full-service branches, eight regional business centers, and industry desks for major corporate customers.The bank's stocks are traded on the Tel Aviv Stock ExchangeIn 2008, Bank Hapoalim recorded a net loss of NIS 895 million. During the financial crisis, the bank sold its New York-based mortgage backed security operations significantly below its former book value which was the main reason for the negative performance that year.

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